Gordham confirms Govt is pursuing nuclear energy

Pravin Gordhan confirmed a Cabinet decision to pursue nuclear has been made with thorough procurement according to EWN

New Finance Minister Pravin Gordhan says only available funds will be used to fund nuclear power plants.

At a media briefing earlier today, Gordhan confirmed a Cabinet decision to pursue nuclear has been made, but that a thorough procurement process now lies ahead.

Last night, Gordhan was returned to his old portfolio after days of chaos on the markets following President Jacob Zuma’s decision to fire Nhlanhla Nene and replace him with David van Rooyen.

Van Rooyen was only in his position for four days before making way for Gordhan who today assured investors there would be no change in financial policies.

“There are times when you have to admit that there was a miscalculation, there needs to be a review of the decision and we need to move on to a new scenario. Regrettably, I represent the new scenario.”

Gordhan says a decision on how to fund the nuclear build programme has not been made and the treasury will tread carefully.

“And at the same time ensure that we reach our fiscal goals. Fiscal consolidation over a period of time, which means you want to narrow the deficit.”

Gordhan says the affordability of the projects needs to be seriously considered.

“We will only do that thing on whether it’s affordable. We can’t spend money that we don’t have, we can’t make commitments when we know that we are not going to get the money.”

Gordhan also talked tough about the state of the country’s state owned enterprises, including the South African Airways (SAA), saying government will not be dictated to.